>> indeed. well, stay with cnbc, we have got your money, your vote tonight. >> all night long. >> must see tv. >> that will do it for this edition of "power lunch." get thought and vote, everybody, if you haven't yet. "street signs" begins right now. we will see you tomorrow. welcome do to election street signs today it all comes down to today and tonight, millions at the polls as the white house and control of the senate up for grabs. stocks may tell story of who will win. we have got your obama happened romney traced as well as full cnbc coverage from all over this fine land.. all eyes on next tuesday as well when congress comes back. can they get it together and fix the fiscal cliff? plus, the latest on sandy's recovery and the coming storm and all the stock news you need to know. yes, mandy there is stock news today. >> indeed there is. well, let's get to the markets, the dow is on track for a second day in the sun today and if the dow's gain exceeds 136 points at

the close it is doing that right now, by the way, it will be the dow's biggest point gain since september 13th. as for the s & p 500 now up for the fourth time in five day none of the major averages have had winning streaks as long as three days in about three weeks. by the way, the s & p 500 rallied 67% since president obama took office. take a look at the nasdaq, also higher, on the last election day, november 4, 2008 you can the nasdaq gaped 3.1%. the dow, 3.3% and the s & p, 4.1%. get down to bob pisani you the floor of the new york stock exchange. bob what are the markets telling us about what is happening with the election? >> i see a classic risk-on trade that doesn't necessarily favor either candidate but some resolution of all of this. what do you see in a risk-on trade, what we are seeing today. look at the dollar index.

you see the doll loar move down. put that dollar index up there you go happened a little after 11:30, sitting near the lows for the day, as you can see what are the characteristics in the stock market of the classic risk-on trade? commodity stocks moving up like energy and material stocks to the upside and see transports moving up as well. there are your market leaders, these are the classic risk on, industrials not shown here, nofgt upside. what is the market concerned about, the two things they are most concerned about? a short-term concern that there would be no whipper. wle long-term, concerned about the fiscal cliff. they are hopeful there will be a winner one kind or another and deal with the fiscal cliff somewhere down the road. take a look, i get ask about the fiscal cliff all the time, lockheed martin, lockheed marten

is the poster child for the fiscal cliff, they have publicly stated if they get sequestration, they are in big trouble, going to hurt them a lot. lockheed marten sitting at a 52-week high today, i doubt they would be doing that if there was massive concern there is not going to be deal that could be reached in the future on the fiscal cliff. >> bottom line, the market is up on the hope it is will be over soon. let's hope it gets what it wants. the bottom bottom line, will obama or romney win? yes. it will be a while before we get data but look at stocks to see what investors might be predicting about the outcome. bob pisani looked at sectors. as you know, loyal viewer, cnbc put together obama and romney sectors, filled with what they may or may not do legislatively in their administration. here is how they look now, cnbc obama index, not collapsing, down .2. still, down. romney stocks though, doing a

little bit better today. that index up more than 1.5%. the opposite of intrade now. we showed you yesterday that republican -- get to the names here, these are who are in the portfolios a lot of names, read them for yourselves, not going to go through them that would eat entire show. the romney portfolio, obama heavily health care, some of the health care name, hospital stocks, are the biggest down stocks in these respective indexes today. heavily dude is coal, energy and oil. we gave you the question there was a republican who had the single best run during his term, calvin coolidge. since world war ii on average, democrats done better on their term notice stock market. the dow up 74% on average during

democrat terms, trounce the republicans and the elephant, up 47%. important to remember, the next four hours a lot of headlines, tweet, rumors, even bad web pages going up today. be careful trading out there today, folks. all right. from cnbc hq, send to you romney's and obama's headquarters. phil lebeau kicks it off from chicago. phil? >> reporter: here this chicago, making final preparations for the president to speak with 10,000 supporters either late tonight or more likely early tomorrow morning. president obama voted early two weeks ago here in chicago. meanwhile, vice presidented by opinion and his wife voted this morning in delaware, they fly here to watch election night returns with the president and first lady. the story from here at president obama's campaign headquarters. back to you. >> okay, so the question here is -- >> i'm here. >> campaigning on election day

in the battleground state of ohio, also a last-minute stop in pennsylvania, he and wife, ann romney, did vote in the boston suburb of belmont before he went back out on the trail. it will be a long time before we see rom noint stage behind us to either claim his prize as the next president of the united states or offer a sobering concession speech. how do you plate market if you wake one no clear winner? gentlemen, great to have you on the show. michael, give us the playbook here as concisely as you possibly can. >> concisely as i can, we still have a fiscal cliff and we still have significant head winds to economic growth. that said, i think that you will see probably interest rates a

little bit lower and continued lower if the president says in office, high fer romney stays in office. defense stocks better off under romney. financials, flat, higher for romney, health care, better under the president. not so good under romney. obama care better for the hospital stocks. brian was talking about them doing much better today. energies may be side twice down for the president, higher for mr. romney. and housing store, probably better, a little more encouraged under the president's staying in office. flat to down for romney. so, lots of changes coming up. again, i think brian was very prudent in suggesting he be a bit careful here with all the maelstrom of news we are getting today. >> art, your playbook differ or approximately the same? >> almost exactly the same. i think michael started off talking about the fiscal cliff. i think that is the most important thing to focus on, if we do get a decision tomorrow,

let hope we do, one way or the other, the immediate focus in this marketplace will turn to how do we resolve the fiscal cliff? how do we push this fiscal bridge into 2013 and come to some resolve? as for the rest of the playbook that is right. we get a bit of a bounce either way, get clarity and do have a president, you know, come tomorrow morning, the market is going to bounce either way, order of magnitude as to the direction and how much of a bounce we get, whether it's the challenge of the incumbent, but you have to be very careful, both throughout the course of today and the next couple of weeks if we do not have a decision that could drag on for a long time and the last thing this market needs right now -- [ inaudible ]. >> dig into that a little bit more. god help us, if we don't have a clear outcome, right, what's gonna happen? going weeks, hanging chads and lawsuits, what's gonna happen to the equity market? >> you remember the timeline back in 2000. we went from november 7th to

december 13th without a clear decision. so, you know, clearly, that was just heading into a bad economy, nothing do with a looming fiscal cliff, could be a disaster for this market on the near term, which mean it is virtually impossible to put the structure together to avoid the fiscal cliff. we virtually have to go off if we didn't have a decision and it's not just florida now. remember we had one state where the votes contested. could have the possibility of five to seven floridas if things are that close in terms of recount, things of that nature, very difficult but need to be very careful placing large wages one way or the other before the election. [ inaudible ] >> don't forget, a very strong market now two days in a row back to back lead nothing this decision. i agree with art, no decision, this thing can drop off very precipitously. i think a fall back from the two days of solid gains would be a little bit expected here. >> what would you do, mike all, that worst case scenario, no clear decision? ride it out in terms of your

money? or would you take some active positions? [ overlapping speakers ] >> r >> run away. >> costa rica, here we come. >> running asway not an investment strategy. >> my friend john montgomery reminds me if you are going to panic, you need to be the first one. >> you don't want to sell into some kind of falling market you know is going to get resolved in a few days. >> i have been on the record saying i'm more worried about next week, the house comes back and the fiscal cliff. the president sees a big deal, boy don't get something done in congress the next couple of weeks, we could be in big trouble. >> that's the point and almost the more important piece of this puzzle, going to have an election, find out hot next president is whether the incumbent or the challenger. we need to have bipartisan support for some sort of deal that moves us down the road and

avoids sequestration at the turn of the calendar and certainly figures out what part of the bush era tax cuts be extended for a period of time until we can get a grand bargain. don't have enough runway in the lame duck congress to get anything significant done. need to at least build a bridge across, you know, into '13. >> right now, we have got this 3% gdp growth, really anemic recovery. if we see less consumer spending or less ability to spend because of no wage gains, higher taxes or fewer loopholes. each candidate talking about a higher revenue base and i think we have less government spending, you got two major elements of gdp pulling back, a tough growth scenario. >> art said build a bridge, might be ambassador bridge, we drive into canada. >> not going to be that bad. >> nothing wrong with that either. race for the white house getting all the attention, don't forget there are very important congressional races as well.

in fact, control of the senate is up for grabs and with the fiscal cliff looming, as we said that senate race could be more important than the presidency when it comes down to the fiscal situation. let's get the run down on these races with eamon javers. first off, the run down, you agree with my people were mir, the senate race from a macrofiscal point of view could be just as important or more important? >> absolutely. both presidential candidates have their ambulance they would like to do on taxes and spending, won't be able to implement those plans as they are. they will have to deal with congress. so, who's sitting in that congress makes all the difference in the world after tonight. in the senate, the democrats control, republicans would need four net pickups in order to take control, three if mitt romney wins because the vice president, paul ryan, would cast the deciding vote. in the house of representatives, you need 25-seat pickup if you are the democratic party to take control. political pundits, if you average out all the expectations, think we will have a status quo, think you will see a republican house and democratic senate tomorrow morning just as we had before but going to be a very polarized

house and senate and let's talk a little bit about the tea party here, because that was such a key focus of the 2010 election cycle. 19 of the 87 republican freshmen who were elected last time joined the tea party caucus in the house and of those, 17 are in very safe districts, expected to be re-elected overwhelmingly and the cook political report expects that 75 of the 87 republican freshmen who were swept into office last time around are going to be re-elected today. what we are seeing here, guys is a very partisan house of representatives that's going to be created, largely due to redistricting you and polarization in this country. tougher to get a fiscal cliff deal when we go into the fall. >> that is not what we want to hear. >> sorry, have to give it to you the way it is. we are swinging through the swing states. first up, the state that could be the earliest bellwether in this election. >> smile, eamon. later on, how the 1% has fared the last four years. you think they have done pretty well? and they have.

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okay. here is look at went polls close tonight. alaska is the last poll to close at 1 a.m. eastern. polls close at 7 p.m. in virginia. it's a key swing state and a possible very early bellwether. diana olick is there what are you seeing and hearing right

now? >> reporter: remember this state voted republicans for 40 years for president until 2008, when barack obama came in and won this state, largely with support right here in northern virginia and we are seeing great voter turnout on a gorgeous day here in northern virginia. this is why this race is so close it is north versus south and these two candidates and their running mates have made over 90 appearances in their state this year, barack obama holding nine rally, governor romney holding ten rallies, just since august 31st, the have spent over $131 million just in television advertising alone, all to get those crucial 13 electoral votes. doubt math, you can look at ohio and say that's important, of course, but virginia very important for governor romney to win this to make business hist way to the white house. and as eamon was talk about democrat tim cocaine running against george allen, a seat

vacated by a democrat, the senate so important right now, looking at economic issues, talking about the bush tax cut you can the fiscal cliff and so important to virginia, sequestration and potential $50 billion in defense cuts when you have so much defense industry going on and the pentagon is here. >> if you are in line by seven, you can still vote in virginia, right? >> we did see long lines this morning, the line here wrapped around the building and another polling places had significant number of voters do early absentee voting.

it's thought if mitt romney doesn't take florida he is done. mary thompson is live in orlando with an update. mary? >> reporter: of course, brian, electoral votes make flat biggest prize among the swing states shall as you mentioned, you also mentioned critical to the romney campaign. political analysts saying that a win here just makes it far easier for the former massachusetts governor to win the needed -- get to the needed 270 electoral votes. romney here holding a lead in the polls over president obama. a lead president obama held throughout most of the summer as well, wing here in 2008, pro-peopled by the 18 to 29-year-old vote, a group democrats are concerned will not show up in force this time as they did four years ago. as for the issue, the primary ones for both obama and romney supporters is the economy. >> looking at the policy the last four years and just havoc

that they have caused on the u.s. economy, we just can't continue that path. >> we are in this together, which i see as democratic. so and i'm also concerned about the poor and those who have so little and so many of us have so much. >> reporter: as for florida's economy, of course it continues to struggle with the aftermath of the bursting of the housing bubble. of course, europe's woes having a negative impact on its very important tourism business. of course, it's received a lot of visits lately from the candidates, though it is the second most visited candidate -- or state by both candidates. and also, it's the state that has received the most money when you talk about advertising dollars. the greatest amount has been spent here in florida. now, if you come back to me and look over my left shoulders, we are here at the henry gardens here in orlando, fairly quiet here, no long lines, there were lines this morning, they have cleared up, but i believe we have some aerial video of other long lines in orange county and that's critical.

heavy voter turnout among the 50-plus group gives it to romney. the 50 below age group, of course, favors president obama. guys, back to you? >> mary, thank you very much for that. certainly feels like lines are the new normal these days. nevada is another state to watch. las vegas has had more political tv ads than any other city in the nation. and the candidates have been stumping there every single week. jane wells is stomping the ground there is as well. jane? >> reporter: i'm outside caesars palace, las vegas is packed, obviously everybody voted early or not voting at all we talk about nevada, we talk about the gaming companies and some ceos have contributed to mitt romney. all of them have contributed to state republican races, las vegas sands, mgm resorts, wynn, caesars. off the strip in a state with the highest unemployment rate in the nation, one wealthy co is spending his money on a bold, private gamble on job creation. >> this is our newest zap poe's office building. >> reporter: online shoe

retailer zap poes, based in henderson, nevada, is running to a generally run down area north of the strip, better known for tattoo parlors than glitz. ceo tony shea taken over several floors in a condo in that neighborhood. he is planning to invest $350 buying buildings, building housing, investing in small businesses, tech startups and education for entrepreneurs willing to give him a stake in their companies, live in the community and do something positive for it. >> most people divided world into either you have to be this money-losing charity or you have to be maximizing profits and we think there's actually really good in between, what we are trying to do we are trying to do stuff good for the economy but also in the long-term, we think it will be a great return on investment. we have had ten tech companies

move from other states here, think of the city as a startup, you don't get many opportunities like that in a lifetime. >> reporter: he has really, really bold maps. he says if you can fix cities, you can kind of fix the world. he didn't want to talk about who's going to win tonight because, guys, he says no matter who is in the white house, he is moving forward with his plans. >> good for him, more people like that a bottom-up strategy. thanks, jane wells. the question are millionaires better off today than four years ago? there's a very clear answer to that question and wealth expert robert frank is about to have it for you. later on, back then, students were buying the message of hope and change, but now, more than half of recent college grads are still unemployed or underemployed and saddled with maybe $1 trillion in student loan debt. we will go to the biggest college town in america to find out if the student vote is changing this time around. ally bank. why they're always there to talk. i love you, james. don't you love me?

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america is saddled with $1 trillion in student loan debt and more than 50% of college grads under 25 are jobless or underemployed. has president obama's message of hope and change gone cold with the student vote? scott cohn is live in the swing state of ohio and he is hopefully got some answers for us. scott? >> i will try, mandy, first, a quick update on a story we told but today, a request to blocked use of some of the software that will be used to transmit vote totals from the largest precincts in this state to the secretary of state's office. a federal judge has blocked or denied the request for a restraining order, the complaint had alleged the software could be tampered with. now, one of the reasons that we came to ohio state, in addition to the fact that there is a nationally recognized election law project here, is the youth vote. ohio state university is huge. more than 64,000 students here. a relative bargain, tuition-wise, about $35,000 out

of state you can $25,000 instate. a lot of students are turning out today. a line at the polling place at the union, an hour and a half long. they have been weight and started lining up before the polls opened. so, what are these students thinking in the first step, we went to the head of the college democrats and the college republicans. we found that those guys were really good at reciting the talking points. >> governor romney has the record of job creation and also a plan for job creation. president obama doesn't. >> i'm glad i have a president who has stood with me and fought with me and fought with students. he has got our side. he's got our backs. >> we heard that before. so we found cle real college students and asked what is important to them. >> equality, make sure obama supports that same-sex marriage,

r regardless of the socioeconomic status. >> tuition rate, interest rates on loans. >> i need all the support from the government and financial aid that i can get some, that's very important to me as well as foreign policy, actually. >> those last two students would not tell us who they voted for, which you know what, is kind of refreshing after all this. guys, back to you. >> is. scott cohn, thank you very much. all right. buckeye cohn. now turn now from the poor college kid to america's 1%. how is the ohas the obama white been for millionaires? bring in robert frank f you are a millionaire, good all the time anyway? >> been actually better under obama. in fact, millionaires are better off today than they were four years ago or at least there are more of them a study from wealth insight showed that the u.s. added more than 1 million nairs under obama. that's 1,000 millionaires a day, or 40 millionaires an hour. now, in total there are now more than 5 million nairs in the

u.s., 19 trillion in total wealth. the u.s. added more millionaires in obama's first three years than george busch created in his eight years. the obama gains are on par roughly clinton's second term, that was the big bull market earthquake the dot com boom. stock markets dried most of the growth decline in millionaires, the market rebounded in 2009 and 2010 gave us all those new millionaires, so, millionaires have done well under obama but as one of my readers wrote to me, brian, bernanke did more to create millionaires than barack obama. >> pretty much like dropping those million dollar -- >> it has. >> dollars from the sky, right? >> in order to take advantage of asset inflation, you have to have assets. >> that's right. most of the millionaires will

lean toward romney. the top issues for voters are the national deficit, unemployment, national security, by the way, taxes rank among the last issues. >> billionaires, the day after that, zillionaires. this doesn't happen all that often, we are in the midst of a big election day stock ral slichlt th -- rally. is this connected to the election? we will get answers. can anybody fix the fiscal cliff? congress back in session next week. what will be done? what won't be done? we will find out coming up.

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if you follow predictive websites, intrade, an intraday chart, seeing the president up 4.5% from his close. he is down a little off his peak, intra day still up from close last night. what about mir. can you imagine if the president is going up, mitt romney likely going down. the market through intrade giving him just a 29% chance of becoming president of the united states. >> talking of the market, get the street talk now, because yes, even on election day brian, there are still stock stories of note out there. and europe has also not gone away either. the mean time, first up, got hasbro and popping by 5%. >> s our election coverage has stolen our deck, that is why we are standing here. hairful on hasbro. told you to be careful on twit and all this stuff, hasbro, talk out there rule officers you want to call it web blogs, whatever, that disney may be interested in buying the magic the gathering and wizards of the coast division, the source originally

comes from mtv geek, the tech side of mtv. hasbro, out there on the wires, by the way, the only reason i bring it up, stock's up 4.5%. >> watching fossil, a down day today after missing street estimates. >> these right. they cut the fourth quarter sales growth forecast, really a double whammy here, hurt by a weak europe, also a stronger dollar. europe is about 35% of fossil's wholesale biz, that stock down nearly 12% a terrible day for fossil all day long. >> also a terrible day happening for express scripts i after the company calls next year's rules into question. >> saying analyst forecasts for next year may be too aggressive. here is the thing, trying to digest the $29 billion deal for medco and maybe they were overly optimistic how what will could be managed. they did beat by three cents last quarter but everybody they should be focused on the future, so, express scripts, analysts, might want to pull back on your estimates, the stock pulling back more than 11%. weight watcher, take the other side of the coin, right?

this one is soaring by 17%. >> little good news. why not, right? third quarter profit just absolutely crushed it. came in 15 cents above the consensus. they did cut the top end of their yearly earnings outlook by a dime but earnings very, very strong. jpmorgan raised the price dark to 57 bucks, neutral ratings. >> moving on to a story about office max, why is it odd? >> 'cause i'm trying to figure it out and anything i can't figure out i immediately label as being odd. full-year sales this year will be lower than last year. so sales this year lower than last year. but earnings were up but because it retired debt, they haven't reported a year of revenue growth since 2007. since 2007. they haven't had year-over-year revenue growth. neuberger berman, trying to do stuff with the board since june. maybe optimism sunday. if you know why office max is

up, please let me know. this is a cry, plea for help. >> we are at your service. >> we really are. >> we know tonight's results should have an impact on stocks but that is by far from the only market out there. what about interest rates, gold, currencies? let's bring in a new face to cnbc, jose wynn, head of global fx research at barclays. i love this, jose, because we are always talking about stocks and bonds. listen, a lot of people that think we could get tighter interest rate policies under a mitt romney presidency. what do you think? >> well, actually, that's one of the main concerns that the romney administration are going to survey with client. we ran a big surveys, 350 plus -- 350 clients with over $10 trillion and the management. >> certainly that would affect

the outlook for the u.s. dollar as well. what are the scene nair yo both candidates, jose, for the u.s. dollar, which very closely is correlated to what is going to happen with commodities? >> yeah, as you know, our research guys say under a romney win, [ inaudible ] and of course, i would put a tighter tone on the dollar as well. we think the way to play this is by looking for a higher dollar yen, something that can also cross the results of the survey we found out. so under that scenario, under the romney win, high dollar yen is a way to play both for barclays and for our client. >> what is the overall currency outlook out there, regardless, somebody is going to wins, the only thing we do know, jose. expectation and recommendations wildly different with currencies or about the same? >> well, actually, on currency,

the main way to plate u.s. elections, i would say the stocks and bonds. dollar crosses against say the yen, as we mentioned, and also again as we expect, some -- emerging market, high yield and -- high interest rate currencies such as the indian rupee, ruble. we don't expect it to play in these election. >> what ever the short-term out -- >> sorry? >> whatever the short-term outcome the market reaction, jose, are all bets off? whoever wins those get into business a week from now to sort out the fiscal cliff. >> very clearly across these surveys that clients are actually quite worried about political gridlock. under the obama administration,

50% believe that that is the main concern. comes down to 24%, romney win. after the fed tightening policy. >> we will see you again, jose, thank you vet. >> thank you. continuing power outages and sandy cleanup efforts complic e complicating today's voting in the northeast. will it have an impact on the outcome? good grief, a week after the sandy devastated the area there is a new storm on the way, we will get the new track and gauge its def verity as well. that is next. ♪ [ male announcer ] this is karen and jeremiah. they don't know it yet, but they're gonna fall in love, get married, have a couple of kids, [ children laughing ] move to the country, and live a long, happy life together where they almost never fight about money. [ dog barks ] because right after they get married, they'll find some retirement people who are paid on salary, not commission. they'll get straightforward guidance and be able to focus on other things, like each other, which isn't rocket science.

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i'm bill griffeth, on closing bell, we are following this election day rally, but apple shares are dangerously close to bear market territory. find out if that's buying opportunity for a value trap. and then stocks have generally been higher under president obama, but lately, wall street has been rallying behind mitt romney. former wells chairman and ceo will weigh in on who he feels is better for your portfolio. a team of top strategists standing by to figure out how to help you invest tomorrow, depending on who wins the white house and the senate and the house.

it's all going to happen tonight. maria and i will see you top of the hour hour on closing bell. oil and gasoline futures soaring to session highs. sharon epperson has the final trade from the new next. >> $3 on the wti contract, above $88 a barrel and a lot of traders say the short covering came in as we started to see equities take off that kind of started the rally and then it just gained momentum, as we get through -- went through key levels, namely that $888 level that would be the recent range of prices between $88 and $93 a barrel, falling below that, now back into that territory, tlarns are looking at the breakthrough price, now at the highest levels we have seen since mid-october and breaking crude you can the 100-day moving average, technically speaking that shows a lot of momentum that maybe ahead in that market as well. but of course in this area, the folk discuss definitely on gasoline and gasoline features also very strong. we know that the philips 66 bay way refinery in new jersey will not reopen for another two to three weeks.

we also know that a nor'easter is on its way. that with the supply issues this we are already facing definitely helping to support gasoline prices here. back to you. >> all right, sharon, thank you very much. well, the sandy gas lines maybe easing a bit but people in new jersey are now on voting lines today. to hip displaced residents, chris christie authorized voters to cast their ballots via e-mail or facts. kayla tausche reports from a polling place in little ferry, new jersey. how is it going? >> reporter: steady turnout so far in new jersey, even though many areas like here in little ferry were hard hit by super storm sandy. that being said, new initiatives for regular voting, like e-mail and mail-in ballots as well as hard-paper voting should soft an major shift but it likely won't the 70% turnout rate of the last three elections according to the mare of nearby moon knacky. >> going to be down. i couldn't tell you what the percentable is. it is a presidential election, get people to come out and vote.

>> reporter: thousands voted early with waits of over two hours in some surrounding counties. clerks there said the turnout was unlike anything they have ever seen with state officials also calling the turnout for early voters "very strong." of course, still waiting on those final numbers. back to you. >> thanks very much, kayla. as we sadly know, sandy brought rain and wind last week. now, a powerful nor'easter could bring snow this week. our meteorologist todd gross is joining us. tell us what is likely to happen. >> the problem is not that it's going to snow in some spots, it's where it's going to snow. i will's explain that in a moment. there it is finally formed, of course, the computer maps tell us it will be there and actually there moving up the coastline, you can see the radar and satellite, so you are actually seeing it form right now let's

check out how it will look tomorrow though as it moves up the eastern seaboard tomorrow, we will see an area of rain, heavy rain and gusty winds spread forward from washington, d.c. through new york city and up to boston. the worst being around the new jersey shoreline and especially long island out to cape cod. then tomorrow night you can the situation changes and here's where it gets really dice i is it was supposed to snow inland over the mountains. it now looks like a more compact area around the suburbs. western connecticut, other areas under the gun here. wouldn't you know it the areas just getting back on their feet in terms of power outables now. that is a brand new cop sent to the storm coming up later tomorrow, tomorrow night. check out the major impacts from the storm then. yes, could be gusty winds, cape cod, long eye law and, yes excoastal flooding late in the afternoon tomorrow but that mix

with heavy wet snow around 7:00 tomorrow evening that is the big wildcard. we will be watching that throughout. >> we do not need t thank you very much, todd gross. no matter who whips today, the most immediate threat to your money is the fiscal cliff. that's right. severe spending cuts and big tax increases less than two months away. next, we run through the scenarios from a fix, kicking the can down the road yet again. [ male announcer ] at scottrade, we believe the more you know, the better you trade. so we have ongoing webinars and interactive learning, plus, in-branch seminars at over 500 locations, where our dedicated support teams help you know more so your money can do more.

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there's a lot to be happy about today. here's the bad news. no matter who wins tonight, we are facing a huge fiscal cliff problem. like immediately. congress back in session in one week. that's got to be jobs one, two, three, four, five, et cetera for congress. let's talk about it with the washington bureau chief for "the wall street journal." if obama wins re-election, could that mean we're more likely to go over the fiscal cliff? he has less of a political incentive to find a solution. >> i think that's probably right. if mitt romney wins, there's going to be an easier path to kick the can down the road six months. new president is coming in.

everybody wants to give him a chance to get settled, give him time. let's all agree we're going to delay this. if barack obama wins, that's not the scenario. if he wins, we have to go straight to the hard questions you were just referring to. yes, there are more people in the democratic party, but frankly more in the republican party who say, if we can't come to a deal, let's let those automatic tax increases kick in. >> scott, obviously, obama's been out there talking about going over the fiscal cliff. that's a real game of chicken. do you think he would do that to the economy? >> we're already seeing, as jerry mentioned, a lot of members of the democratic party, both in the house and senate and outsiders, saying, yes, this is the way that we're going to get our way to increase top tax rates on the rich. they believe that going over the fiscal cliff will lead to that kind of a scenario. they're willing to risk, i think, a temporary or perhaps

permanent downturn in the economy in order to get their way on those top tax rates. >> the president has made it strongly known. he's not going to do anything unless there's a slight increase on the rich. if he wins another four years, his political career is going to be over after that. what pressure now becomes on congressional democrats? >> well, look, everybody's worried about a legacy at this point. legacy of a second democratic in this administration. going over the cliff is not an easy decision to make. if it happens that way, it will be because everybody will aglee th -- agree is that what is going to be negotiated next year is a tax cut. the calculation would be that markets would not be all that shaken because they know this is a temporary game that washington is playing. by the way, brian, there's a more sane scenario being discussed. >> please tell us. we need sanity. >> i'll try to make you feel

better. so the sane scenario is that the lame duck congress comes together. they agree to some kind of good show in spending cuts, temporary ones, but ones of good faith. then they set targets for the committees to meet for tax rates next year. they set a deadline for that. then there's a fallback that kicks in if they don't meet the targets. it's a fallback everybody will have to live with this time. perhaps like the bowles-simpson budget plan passed last year. and that they agree all this can pass the senate with 50, not 60 votes. >> maybe a fallback option is better than nothing. scott, what do you think a final deal could look like? what kind of compromise is possible? >> right now i have no idea. i think one of the things we have to be careful is confusing what lame duck members might do in december versus what a brand new congress and president will do in the spring. ultimately, i think we are headed toward a grand bargain.

it all will depend on what republicans will concede in terms of tax revenues. are they allowing tax rates to go up? at the same time, will democrats concede on entitlement reform and how severe and meaningful those reforms will be. >> okay. we've got to it leave it there. gentlemen, thank you your time. we have a market flash now. >> watch iing whingo all afternoon. the company did win a patent suit against google and others on its search and ad technology. it's going to get 3.5% in terms of royalties over the next four years until it expires. the damage is a lot less than they had aimed for at $30 million. >> bertha, thank you. what the first votes cast today tell us about the outcome of this election. plus, a shot of a little election day trivia.

it is a tie in dicksville notch. they have just ten registered voters, but they always cast the first votes admit night. five for obama, five for romney. the first time the town has ever had a tie. the president did win the vote there four years ago. >> and now a little trivia for yo